BankOfAnewGo

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The Bank of AnewGo, operated by AnewGoInc, will operate:

 * Investment Club
 * International money market fund
 * index funds
 * selected stocks, bonds, futures
 * real estate (green acres, urban renewal, green living)
 * selected enterprises
 * Barter Club
 * NewEconomy chit exchange
 * Issue AnewGo Chits based on future value and good for collateral
 * AnewGoHours

We may have a discussion about this.

At first i suggest issuing currency based on an hours concept http://www.ithacahours.org/ to recompense citizens for time donated in service of AnewGo (See AnewGoHours)

--If there was a way.... to combine NewEconomy and other good ideas.... It would be grand.

The BankOfAnewGo has recieved its first AnewGoLaw - TheAnewGo


The BankOfAnewGo declares Assets of a total of @ngo 8000 as of 4/6/03


Frankly I don't yet see where the @mgo gets is value. Particularly is it is worth nothing after a year. My bet is on currencies that represent future value. But I favor supporting all currencies in a free market. If the @ngo can represent value I am all for it along with any national currency or any currency anyone wants to issue in a free market.Any that are accepted by anyone as real value represent an increase in capital without a corresponding increase in debt.

The important thing is that managing all the different chits (currencies) is handeled pretty transparently to the citizen, otherwize it will be a nightmare. The free market gamblers will help distribute our risk.


It may be infeasable for @ngo to last only one year, but quite possible for AnewGoHours

Transparency may be achieved by making all accounts public. The value may achieved by using the currency as a medium for exchanges between citizens or for the benifit of AnewGo. An example, I could exchange $100 US for @ngo 100. My account is credited with @ngo 100. The BankOfAnewGo has $100 US. This could be used to purchase services needed ie. Web space etc. Remember with only a pop. currently at 5 we can't expect a lot of economic activity in AnewGo. see BankofAnewGoAccount


Now we get to a curly one. Interest. I would not like to see it, but to remain competitive we will have to be very clever how we engineer this.


The BankOfAnewGo declares Assets of a total of @ngo 11970 as of 2003-05-14


It seems that as of now, the BankOfAnewGo will operate with a policy of no interest.


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